The recent floods along the South African Eastern Coast (particularly KwaZulu-Natal) have caused extensive damage to businesses, roads, bridges, water supply, electricity, rail and communication infrastructure. There has also been extensive damage to public infrastructure, including schools and health facilities etc. The Industrial Development Corporation (IDC) has committed R500 million to help the nation to recover and rebuild all affected infrastructure. This national fund is a response to President Cyril Ramaphosa’s announcement of the National State of Disaster declared on 18 April 2022. The fund is open to other provinces and areas that need relief. The relief IDC is offering rage from Bridging Finance, Infrastructure, Capex, Working Capital and even tailored solutions for the Township Economy – Click here to access the document.
Photo credit: The Witness